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Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Advances $ 95,201 $ 478,477 $ 548,953 $ 1,508,189
Interest-bearing deposits 638 9,347 6,005 31,437
Securities purchased under agreements to resell 294 10,168 7,923 25,871
Federal funds sold 1,000 48,954 27,454 126,551
Trading securities 9,055 18,309 41,786 41,317
Available-for-sale (AFS) securities 31,996 71,884 138,565 201,198
Held-to-maturity (HTM) securities 11,816 20,401 43,932 65,027
Mortgage loans held for portfolio 35,932 42,452 121,561 126,922
Total interest income 185,932 699,992 936,179 2,126,512
Interest expense:        
Consolidated obligations - discount notes 16,980 167,435 175,414 497,369
Consolidated obligations - bonds 80,579 413,901 462,006 1,259,974
Deposits 26 2,922 1,827 8,929
Mandatorily redeemable capital stock and other borrowings 4,072 6,715 14,127 10,635
Total interest expense 101,657 590,973 653,374 1,776,907
Net interest income 84,275 109,019 282,805 349,605
Provision for credit losses 1,243 371 5,635 1,820
Net interest income after provision for credit losses 83,032 108,648 277,170 347,785
Other noninterest income (loss):        
Net OTTI losses 0 (271) 0 (330)
Net gains (losses) on investment securities (Note 2) (5,323) 5,441 53,868 23,355
Net gains (losses) on derivatives and hedging activities (Note 5) 3,589 (17,397) (97,685) (55,201)
Standby letters of credit fees 5,407 5,274 16,019 16,310
Other, net 1,405 322 1,688 1,875
Total other noninterest income (loss) 5,078 (6,631) (26,110) (13,991)
Other Expense        
Compensation and benefits 12,844 11,129 39,190 36,909
Other operating 7,871 8,657 29,869 24,151
Finance Agency 1,894 1,589 5,688 4,775
Office of Finance 1,243 1,812 3,995 4,581
Total other expense 23,852 23,187 78,742 70,416
Income before assessments 64,258 78,830 172,318 263,378
Affordable Housing Program (AHP) assessment 6,833 8,554 18,644 27,400
Net Income $ 57,425 $ 70,276 $ 153,674 $ 235,978